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A general sentiment of a slowdown in the economy seems to have impacted pepper prices, which reported a drop of ₹2 per kg in Kochi on Monday.
According to traders, the diminishing demand in the Chinese market for spices such as nutmeg, ginger due to Coronavirus issue and the resultant price drop has reflected in the pepper market as well.
Though the quantity offered has improved at 44 tonnes, there was a subdued demand, especially from Tamil Nadu based dealers to procure the commodity from the primary market. These dealers were very active last week to buy pepper. These quantities have now come to the terminal market, but there were more sellers than buyers, said Kishore Shamji of Kishor Spices.
Wayanad based dealers, who were active in inter-state business last week, are also in a mood to sell especially those who are based in Kalpetta, Bathery, Pulpally etc.
The average price realised in Kochi was ₹316 for ungarbled, while MG1 garbled was quoted at ₹336. Fresh pepper garnered ₹306.
Besides, the Indian domestic trade is not ready to accept the reports coming from Vietnam on pepper market becoming firmer there, Shamji said.
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